You might find the following analysis that I posted sometime earlier. It excludes royalties and Arians admin costs (circa $3m per annum) but I believe is a fairly accurate reflected of projected costs for the current toll mill operation:
I can find the folliwing quoted costs for the toll mill in past RNS:
1) Mining cost $32 per tonne 2) Milling cost $38 per tonne
That is $70 per tonne total cost (not incl admin exp, which are independent of mining operations)
One tonne of ore mined/milled at 180g/t (avg per production RNS) = 6.35 oz per tonne
x 60% recovery rate = 3.81 oz per tonne
$70 / 3.81 = $18 per oz mining/mill cost (excl admin)
The toll mill should be profitable as an operation above $18 per oz, however this may not fully cover Arians fixed overheads (admin etc).
With Q1 results around the corner AGQ should be re-rated as a small scale producer rather than a cash starved explorer. I also understand from personal correspondence with JW in March that we will shortly have funding in place to cover the next 18-24 months. Just a pity we had to use more of the SEDA at such a low SP... Still 6 months from now any purchases today are going to feel pretty good. JW was already in a closed period due to preparing Q1 results at the end of March (i hinted at Director buys) which means results can't be too far off....
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